Wealth management

A Fidelity Investments unit president says expanding its product base and increasing distribution have given it more heft through intermediary channels including banks.

Banknorth Group Inc. in Portland, Maine, announced Friday that it had promoted Joseph Fico, the regional president for Banknorth Insurance Group Massachusetts, to president of Banknorth Insurance Group.

The boards of directors of Toronto-based Sun Life Financial Inc. and Sun Life Assurance Co. of Canada said Friday that they would name Ronald W. Osborne nonexecutive chairman when William W. Stinson retires in May.

Allianz Life Insurance Co. of North America in Minneapolis said it had hired David Parker to be a divisional vice president at an affiliate, USAllianz Investor Services LLC.

Dreyfus Corp. announced Thursday that three of its mutual funds are now available as investment options for holders of health savings accounts opened at its parent, Mellon Financial Corp.

Robert Shore, the president of Allstate Distributors, said he wants to expand variable annuity sales through banks by adding bank distribution relationships as part of a drive to join the top three market players overall, from No. 17 in 2004.

Bank of America Corp.'s asset management arm announced plans Thursday to consolidate 12 open-end retail funds and one variable series fund into similar portfolios and to liquidate two other funds as part of its integration of the assets under management it acquired last year with FleetBoston Financial Corp.

StillPoint Advisors Inc., an Atlanta wealth advisory company, said Thursday that it had hired Brian Nygaard to be the chief executive officer and president of StillPoint Wealth Management.

JPMorgan Retirement Plan Services said Wednesday that it had picked Financial Engines to be its managed account provider.

Nationwide Financial Services Distributors Agency Inc. announced today the introduction of a rider for its variable annuity products sold through banks that gives investors more flexibility to preserve principal from market volatility.

AIG American General said Wednesday that it has launched a set of benefit offerings designed specifically for small and middle-market enterprises.

National City Corp. has named Jeff Getty director of financial planning in the wealth management division of its private-client group, it said Wednesday.

U.S. Global Investors Inc. said on Wednesday that it plans to start a Global Emerging Markets Fund today.

Alliance National Bank, a subsidiary of Alliance Financial Corp. in Syracuse, N.Y., announced Tuesday that it has completed the purchase of a part of the personal trust business of HSBC USA.

State Street Corp. said Tuesday that it has been hired by Brandywine Asset Management in Wilmington, Del., to provide managed account outsourcing services.

JPMorgan Asset Management announced Tuesday that it has completed the integration of its JPMorgan Funds with the One Group Mutual Funds that its parent acquired in last year's purchase of Bank One Corp. of Chicago.

NASD announced Tuesday that it has fined Quick & Reilly Inc. - which is now a part of Banc of America Investment Services Inc. - $570,000 and Piper Jaffray & Co. $275,000 for alleged violations of its directed brokerage rule.